The executive team of the first shareholding bank-affiliated AIC (Arlington Asset Investment Corp) has been finalized, with all members being seasoned professionals from Industrial Bank Co., Ltd.
On November 16 this year, Industrial Bank's wholly-owned subsidiary, Xingyin Financial Asset Investment Co., Ltd. (referred to as "Xingyin Investment"), was officially inaugurated in Fuzhou. With a registered capital of 10 billion yuan, it is the first shareholding bank-affiliated AIC and the sixth bank-affiliated AIC following similar entities established by ICBC, ABC, BOC, CCB, and Bank of Communications.
It has been learned that the inaugural executive team of Xingyin Investment has been largely confirmed. Chen Wei, Party Secretary and President of Industrial Bank's Xiamen Branch, will serve as the Chairman of Xingyin Investment. Notably, Chen Wei attended the inauguration ceremony of Xingyin Investment in his capacity as Chairman and delivered a public speech.
Prior to his appointment as Chairman of Xingyin Investment, Chen Wei had extensive experience in investment banking. He previously served as General Manager of the Investment Banking Department at Industrial Bank, where he led or participated in several pioneering financial transactions in the industry. For instance, in 2020, Industrial Bank executed the nation's first "ABCP+CRMW" transaction, leveraging the bank's credit to provide credit protection for SMEs, thereby reducing their financing costs.
Additionally, Zheng Rongbin, Deputy General Manager of the Inclusive Finance Department at Industrial Bank's headquarters, has been appointed as President of Xingyin Investment. Zheng's recent career has been entirely within the Industrial Bank system, with roles spanning multiple branches and key departments at the headquarters. For example, he previously served as Party Committee Member and Deputy President of Industrial Bank's Nanping Branch. After gaining experience at the branch level, Zheng was transferred to the headquarters, where he became Deputy General Manager of the Inclusive Finance/Rural Revitalization Department.
Zhao Gu, Vice President of Industrial Trust & Asset Management, will serve as Vice President of Xingyin Investment. Zhao is another veteran of Industrial Bank, having risen through the ranks from grassroots positions. His previous roles include General Manager of the Credit Review Department at Industrial Bank's Changsha Branch, President of the Corporate Finance Furong Road Business Headquarters at the same branch, President of Furong Middle Road Sub-branch, and Director of the Risk Monitoring Division in the Corporate Finance Risk Management Department at the headquarters.
Notably, like Chen Wei, Zhao Gu also has relevant experience in investment banking, having previously served as Deputy General Manager of the Investment Banking Department at Industrial Bank's headquarters.
Another Vice President of Xingyin Investment will be Wang Su, Vice President of Industrial Digital Finance. Wang, who previously served as Assistant President of Industrial Digital Finance, has deep expertise in financial technology and is expected to support Xingyin Investment in launching relevant business operations.
Apart from Chairman Chen Wei and the aforementioned executives, Xingyin Investment has five other key members, including four directors—Zhao Chaoqing, Lai Furong, Zheng Rongbin, and Zhang Shuiquan—as well as Chief Financial Officer Zhao Jing. Among them, Lai Furong currently serves as Chief Risk Officer of Industrial Bank, while Zhao Chaoqing is the Chief Auditor at the bank's headquarters.
In March this year, the National Financial Regulatory Administration issued the "Notice on Further Expanding the Equity Investment Pilot Program for Financial Asset Investment Companies," supporting eligible commercial banks in establishing AICs. In May, financial regulators reiterated that to better leverage equity investment in supporting technological innovation, the scope of entities eligible to establish AICs would be expanded to include qualified national commercial banks.
Since then, the number of bank-affiliated AICs has continued to grow. To date, nine AICs have been approved nationwide, including six from state-owned banks (ICBC, ABC, BOC, CCB, Bank of Communications, and Postal Savings Bank) and three from shareholding banks (Industrial Bank, CITIC Bank, and China Merchants Bank).
According to Tianyancha, in addition to Chairman Chen Wei, Xingyin Investment has five other key members, including four directors—Zhao Chaoqing, Lai Furong, Zheng Rongbin, and Zhang Shuiquan—and Chief Financial Officer Zhao Jing.
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